NORWEST WOODS ADDS NEW 54-UNIT APARTMENT BUILDING

NORWOOD, MA – 25 August 2011 – Norwest Woods, a 406-unit apartment community owned and managed by Chestnut Hill Realty, celebrated the recent completion of a 54-unit building. The three story structure is elevator serviced and features spacious one bedroom single level and loft-style residences. Boasting open floor plans, deluxe kitchens with stainless steel appliances, in-unit washer and dryer and large windows, the apartments start at $1,540 per month.

“We couldn’t be more pleased with the outcome of this project,” said Ed Zuker, Chief Executive Officer. “It exemplifies the high caliber of development we are undertaking to enhance and expand our portfolio. Our goal at Norwest Woods was to create more variety in our apartment home styles and appeal to a broader audience of potential residents.”

Located on 50 well-manicured acres on Norwest Drive, Norwest Woods is minutes from Norwood Town Center and a plethora of retail, restaurants and convenience services on Route 1. Comprising spacious one, two and three bedroom floor plans in single level and townhome configurations, Norwest Woods offers amenities such as a clubhouse, pool, fitness center, tennis court and free shuttle service to the Norwood commuter rail station. The pet-friendly apartment community also includes a fitness trail, putting green, ball field and basketball court.

Within a month of opening, 70% of the units were leased; the typical renter is a professional, many with jobs in the Boston area. “We have found that residents are excited by the proximity to public transit, our shuttle to Boston, the high value and quality of the homes and the variety of unit styles,” Zuker continued.

Chestnut Hill Realty acquired Norwest Woods in 1999, and was at that time a 322-unit property. In the years since, the company has invested in upgrading the quality of the apartment residences, adding amenities and improving customer service. Between 2007 and 2009, additional one bedroom infill units were built.

Established in 1969, Chestnut Hill Realty is one of Greater Boston’s leading residential real estate companies, specializing in multifamily housing. Chestnut Hill Realty owns and manages more than 27 apartment home communities in Massachusetts and Rhode Island. Service offerings include apartment rentals, corporate housing, development and commercial leasing.
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